Lincoln Electric (NASDAQ:LECO – Free Report) had its price target increased by Stifel Nicolaus from $195.00 to $216.00 in a report published on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.
LECO has been the subject of several other reports. StockNews.com upgraded Lincoln Electric from a “hold” rating to a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird reduced their price objective on shares of Lincoln Electric from $220.00 to $212.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, KeyCorp lifted their target price on shares of Lincoln Electric from $210.00 to $230.00 and gave the stock an “overweight” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Lincoln Electric has an average rating of “Moderate Buy” and an average price target of $225.17.
View Our Latest Research Report on Lincoln Electric
Lincoln Electric Stock Down 1.8 %
Lincoln Electric (NASDAQ:LECO – Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.09. The company had revenue of $983.76 million for the quarter, compared to analysts’ expectations of $988.07 million. Lincoln Electric had a return on equity of 40.03% and a net margin of 11.93%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.40 earnings per share. Research analysts anticipate that Lincoln Electric will post 8.75 EPS for the current year.
Lincoln Electric Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.75 per share. This is a boost from Lincoln Electric’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.47%. Lincoln Electric’s payout ratio is 33.89%.
Hedge Funds Weigh In On Lincoln Electric
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LECO. V Square Quantitative Management LLC purchased a new stake in shares of Lincoln Electric during the 2nd quarter valued at about $28,000. UMB Bank n.a. raised its position in Lincoln Electric by 97.9% during the third quarter. UMB Bank n.a. now owns 283 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 140 shares during the period. Quarry LP raised its position in Lincoln Electric by 41.5% during the second quarter. Quarry LP now owns 300 shares of the industrial products company’s stock valued at $57,000 after purchasing an additional 88 shares during the period. Blue Trust Inc. boosted its holdings in shares of Lincoln Electric by 308.5% in the 3rd quarter. Blue Trust Inc. now owns 335 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 253 shares during the period. Finally, Gladius Capital Management LP bought a new position in shares of Lincoln Electric during the 2nd quarter valued at approximately $65,000. 79.61% of the stock is owned by institutional investors.
About Lincoln Electric
Lincoln Electric Holdings, Inc, through its subsidiaries, designs, develops, manufactures, and sells welding, cutting, and brazing products worldwide. The company operates through three segments: Americas Welding, International Welding, and The Harris Products Group. It offers brazing and soldering filler metals, arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, and specialty gas regulators, and education solutions, as well as a portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing, as well as involved in brazing and soldering alloys, and in the retail business in the United States.
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